THE China-U.S. trade talks will resume on the basis of equality and mutual respect with the core concerns of both sides expected to be resolved, spokesperson for the Chinese Ministry of Commerce Gao Feng said Thursday.

Speaking at a regular press conference, Gao said the two countries can find a way to solve their trade problems by accommodating each other’s concerns through dialogue.

On Tuesday, The U.S. administration said it will exempt 110 Chinese products, from medical equipment to key capacitors, from 25 percent tariffs Washington earlier imposed on imports from China, after some U.S. companies complained about the additional levies, Reuters reported.

Gao said China has also set up an exemption mechanism for customs duty, which will work according to enterprises’ applications.

The spokesperson urged Washington to follow through on its commitments and to stop suppressing and cracking down on Chinese enterprises, adding that some companies, such as Huawei, remain targets of the U.S. export control list.

Gao also refuted media reports that a number of foreign-funded companies recently exited the Chinese market, assuring that there has been no large-scale withdrawal of foreign capital from China.

The Ministry of Commerce supports the development of foreign-funded enterprises in China and will not prevent their growth. China will further promote investment liberalization and facilitation in an effort to create a transparent business climate, stressed Gao. (CGTN)